WEDNESDAY, DECEMBER 12, 1994
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EXCO, LEGCO APPOINTMENTS
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THE GOVERNMENT TODAY ANNOUNCED THE APPOINTMENT OF MR E.P. HO, SECRETARY FOR TRADE AND INDUSTRY, AS AN OFFICIAL MEMBER OF THE EXECUTIVE COUNCIL, AND THAT OF MR PETER K.Y. TSAO, SECRETARY FOR HOME AFFAIRS (DESIGNATE), AS AN OFFICIAL MEMBER OF THE LEGISLATIVE COUNCIL.
THE APPOINTMENTS FOLLOW RECOMMENDATIONS TO THE SECRETARY OF STATE BY THE GOVERNOR, SIR EDWARD YOUDE.
BOTH APPOINTMENTS ARE TO TAKE EFFECT FROM JANUARY 1, 1985 WHEN THE SECRETARY FOR HOME AFFAIRS, MR DENIS BRAY, RETIRES FROM THE PUBLIC SERVICE.
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MR HO'S APPOINTMENT TO THE EXECUTIVE COUNCIL IS FROM JANUARY 1. 1985 TO AUGUST 31, 1986. MR TSAO'S APPOINTMENT TO THE LEGISLATIVE COUNCIL IS FROM JANUARY 1, 1985 TO THE END OF THE CURRENT LEGISLATIVE COUNCIL SESSION.
NOTE TO EDITORS:
IT WAS ANNOUNCED ON AUGUST 26, 1983 THAT THE SECRETARY FOR HOME AFFAIRS WOULD CEASE TO BE AN EX-OFFICIO MEMBER OF THE EXECUTIVE COUNCIL, ALTHOUGH MR BRAY WOULD CONTINUE TO SERVE ON THE COUNCIL
IN HIS PERSONAL CAPACITY. IT WAS ALSO ANNOUNCED AT THE SAME TIME THAT THE SECRETARY FOR HOME AFFAIRS WOULD IN FUTURE BE A NOMINATED MEMBER RATHER THAN AN EX-OFFICIO MEMBER OF THE LEGISLATIVE COUNCIL.
CONFIDENCE RETURNING TO HK, CBI TOLD
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A MEASURE OF CONFIDENCE HAD BEEN RETURNING SINCE LAST AUGUST WHEN THE FOREIGN SECRETARY, SIR GEOFFREY HOWE, ANNOUNCED IN HONG KONG THE MAIN POINTS OF THE DRAFT SINO-BRITISH AGREEMENT, MR Q.W. LEE, UNOFFICIAL MEMBER OF THE EXECUTIVE COUNCIL TOLD THE CONFEDERATION OF BRITISH INDUSTRY CONFERENCE IN LONDON TODAY.
THERE HAD EARLIER BEEN ANXIETY AND SPECULATION OVER THE LONG- TERM FUTURE OF HONG KONG, RESULTING IN SOME PEOPLE MIGRATING TO OTHER COUNTRIES, MOVING THEIR MONEY AWAY AND BECOMING EXCEEDINGLY CAUTIOUS TOWARDS INVESTMENT AND RE-INVESTMENT IN CAPITAL GOODS, HE SAID.
BUT THE SITUATION HAD CHANGED SINCE THEN, WITH DEPOSIT GROWTH TURNING IN FAVOUR OF THE HONG KONG DOLLAR, AND THE HANG SENG INDEX RISING FROM A LOW OF 746 IN JULY TO 1 115 ON DECEMBER 10.
/RETAINED IMPORTS